Bottom line: Fox’s new “Simpsons”-themed China stores will meet with lukewarm response, and will pave the way for announcements later this year of a new Chinese theme park and film production joint venture.
Fox brings ‘Simpsons’ stores to China
After years of standing on the sidelines, media mogul Rupert Murdoch is finally taking his first big step back into China with plans to open a new chain of concept stores based on the popular TV series “The Simpsons”. An executive with Murdoch’s Twentieth Century Fox (Nasdaq: FOX), which owns the animated TV series, discussed this particular plan last year, even mentioning the “Simpsons” name at that time. Still, some are scratching their heads at this particular concept, since the TV series is relatively unknown in China and was actually banned here until recently.
This announcement is probably just a teaser for the bigger events that will come later this year, including announcement of a 20th Century Fox theme park for China, and possibly a new film production tie-up. Fox is actually playing catch-up to other major Hollywood studios in all 3 areas, following its withdrawal from the market with the sale of its main Chinese TV station to Shanghai’s China Media Capital (CMC) in 2010. Read Full Post…
Bottom line: Rupert Murdoch could soon announce a new China film tie-up after meeting with President Xi Jinping, while Warner Bros’ new China production venture could see mixed results due to the market’s challenging nature.
Warner, Murdoch salivate at China film market
Media heavyweights Rupert Murdoch and Warner Bros are both in the headlines, each snooping around the fringes of China’s film market in search of ways to exploit the nation’s booming box office. In the latest sign that Murdoch may be set to re-enter the market after an earlier withdrawal, the aging head of Twenty-First Century Fox (Nasdaq: FOX) was in Beijing late last week where he got a rare private meeting with Chinese President Xi Jinping. That meeting was chronicled in an upbeat report by the People’s Daily, the official newspaper of the Communist Party.
Meantime, Warner Bros was doing its own dance with China’s state establishment, announcing a film-making joint venture with a private equity fund owned by the nation’s second largest traditional media company. That deal saw Warner and China Media Capital (CMC) announce the formation of Flagship Entertainment Group, which will produce films in China for both the domestic box office and also overseas markets. Read Full Post…
Bottom line: Rupert Murdoch’s shift in China strategy towards less controversial retail and entertainment projects looks smart, but is likely to meet with lukewarm success due to lack of awareness of 20th Century Fox among Chinese consumers.
Rupert Murdoch eyes China theme park
Rupert Murdoch just can’t seem to ignore the China story for too long, with new reports saying his Twenty-First Century Fox (Nasdaq: FOX) is finalizing plans for a theme park in a country that has been quite elusive for the aging media mogul. The theme park approach certainly looks safer than Murdoch’s previous attempts to enter China with more traditional media like TV and movies, and mirrors what some of the world’s other top media companies have done. Of course that means Murdoch and Fox are coming a bit late to this particular show, and the fact that 20th Century Fox theme parks aren’t exactly a well-known brand means his media empire could face a steep uphill ride finding a Chinese audience. Read Full Post…
Tech executives welcomed in the New Year with some intriguing hints on their microblogs, with posts suggesting major new moves in China from global media titan News Corp (Nasdsaq: NWSA) and online video operator LeTV (Shenzhen: 300104). In the former case, a local tech executive posted a photo of himself meeting with Rupert Murdoch in China, indicating the News Corp chief was back doing business in the country after a long absence. In the latter case, LeTV chief Jia Yueting was hinting that his company could soon become the latest Chinese Internet firm to enter the overheated smartphone market. Read Full Post…
Rupert Murdoch’s News Corp (Nasdaq: NWSA) ended its stormy love affair with Chinese television late last week, when it sold its last remaining major asset to a private equity firm. The company’s gradual withdrawal over the last 3 years underscores the difficulty that many western media firms still face in China’s TV market despite rapid changes over the last year. Domestic and foreign companies alike need space to act more commercially in a streamlined regulatory environment for China to develop a truly world-class industry that can someday challenge the dominance of Hollywood. Read Full Post…
Murdoch divorce spotlights News Corp’s China reversal
It’s been relatively quiet in China these last few days due to the Dragon Boat holiday, so I thought I’d start the new week with a look at Rupert Murdoch’s ongoing divorce with Wendi Deng and what it might mean for his flagship New Corp (Nasdaq: NWSA) in China. Many believe that Deng, a China native, was one of the main forces behind Murdoch’s previous bullishness on China, leading News Corp aggressively try to develop the market in the decade from 2000 to 2010. But the company has sharply reversed its China approach over the last 3 years, perhaps reflecting the deteriorating marriage between Murdoch and Deng. Read Full Post…
